Friday, March 09, 2012

68% of 2011 Tax Preferences Went to Renewables

The chart above is based on data in the Congressional Budget Office's report "Federal Financial Support for the Development and Production of Fuels and Energy Technologies," and displays the allocation of energy-related tax preferences for Fiscal Year 2011, by type of fuel or technology. Of the $20.5 billion in energy-related tax preferences in 2011, 68% and $14 billion went to renewable energy, and 15% and about $3 billion went to fossil fuels, for a ratio of more than $4.50 in tax preferences for renewable energy for every $1 in tax preferences for fossil fuels.

"my people know more about balance sheets than some chum who moved from the Bay Area to Park City to pay lower rent and learn to capitalize a sentence."

I was unaware Morganovich moved to Park City in order to learn how to capitalize sentences. I was also unaware his migration patterns are a key indicator of his ability to read a balance sheet. I learn something new every day here at Carpe Diem.

But if ethanol is a renewable, then what good does removing that from the chart do? That's like putting together a chart of all the farmland in America, and taking out soybeans. Makes no sense and doesn't give a complete picture.